SAS 57 Lists All of the Following Objectives in Evaluating

question 8

Multiple Choice

SAS 57 lists all of the following objectives in evaluating accounting estimates except:

• A) the accounting estimates follow standard industry practices.
• B) all accounting estimates that could be material to the financial statements have been developed.
• C) the accounting estimates are reasonable in the circumstances.
• D) the accounting estimates are presented in conformity with applicable accounting principles.
• E) the accounting estimates are properly disclosed.

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Definitions:

Math Class

A class in programming that provides methods for performing basic numeric operations such as exponentiation, logarithm calculations, and trigonometric functions.

ToString

A method in object-oriented programming languages that returns a string representation of an object.

Static Variable

A variable that belongs to the class itself rather than any instance of that class, maintaining a single shared value for all instances of the class.

Class

A blueprint or prototype from which objects are created in object-oriented programming, encapsulating data for the object and methods to manipulate that data.